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theguardian.com
Oil profits boom on ‘war bonus’ as Trump blasts energy giants for ‘making too much money’ - business live
Rolling coverage of the latest economic and financial newsWhile oil company profits soar, farmers across Europe are warning of a slump in food production and rising prices as crops suffer as a result of extreme heat, drought and wildfires.Olive groves have also been hit as the climate crisis drives temperatures across the continent to fresh record highs, meaning the cost of olive oil – already at elevated levels – is expected to start rising again.[BP] prioritises paying shareholders over looking after workers and ordinary people whilst reaping a ‘war bonus’ because of the Iran conflict.The war isn’t only a humanitarian disaster but an economic one for ordinary people, who have ended up paying the price of a ‘Trump Tax’ as the cost of energy rises. Continue reading...
theguardian.com
Calls for UK bank tax to fund cost of living help as HSBC profits hit £7.5bn
Levy could raise £19bn to help pay for Andy Burnham’s support for those struggling with bills, say campaignersBusiness live – latest updatesCampaigners have renewed calls for a windfall tax on UK banks that could raise £19bn towards Andy Burnham’s cost of living agenda, after HSBC raked in $10.1bn (£7.5bn) worth of profits in the second quarter of the year.Bosses at HSBC reported on Tuesday that profits rose 60% year on year in the three months to the end of June, helped by fees from wealth management and insurance business, as well as higher interest rates, which allow the bank to charge more for loans and mortgages. Continue reading...
bbc.co.uk
Why Trump Media's sale of fast access to market-moving social posts is controversial
Trump Media & Technology Group (TMTG) has set up a paid service to give Wall Street firms access to Truth Social's most influential accounts.
cnbc.com
Palantir jumps 16% on 'otherworldly' commercial revenue — here's what's driving the demand
"Our customers have declined to become vassal states of the language labs," Palantir's co-founder and CEO Alex Karp said after blowout second-quarter earnings.
bbc.co.uk
Apple issues new challenge against UK order for access to private user data
It is the latest development in the ongoing dispute between Apple and the Home Office over data privacy.
cnbc.com
Apple launches fresh legal challenge against UK encrypted data access demand
The filing comes a year on from the U.K. dropping an initial demand for access to British and American user data from Apple.
bbc.co.uk
BP's $5.7bn profit highest since 2022 as Iran war pushes up oil price
Higher oil prices boost the energy giant's results while environmental groups accuse it of profiteering.
cnbc.com
Trump warns Iran talks are ‘last chance’ to end war — oil prices rise as Tehran denies negotiations
President Donald Trump has warned that the latest round of negotiations with Iran are the "last chance" to bring an end to the five-month conflict.
cnbc.com
Treasury yields move higher as investors mull uncertainty around peace talks
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — rose 2 basis points to 4.708%.
bbc.co.uk
US states sue to block Trump tariffs impacting dozens of countries
The duties were imposed over claims that 60 US trading partners have failed to tackle forced labour.
cnbc.com
India to raise up to $3.3 billion by selling stake in country’s largest life insurer at 10% discount
Indian government plans to raise up to $3.3 billion by selling its stake in the country's top life insurance company.
cnbc.com
Takaichi’s fiscal push could lift growth — and Japan’s already-rising interest bill
Japan is giving up revenue now in the hope that stronger consumption and a 370 trillion yen public-private investment will deliver faster growth later.
cnbc.com
Saudi Aramco profits jump 33% in second quarter as Iran war squeezes oil supply
The results come as oil supermajors have reported blowout quarterly profits, benefitting from higher fossil fuel prices amid the Iran war.
cnbc.com
BP profit more than doubles as Trump blasts Big Oil for ‘making too much money’
The result come after U.S. President Donald Trump lashed out at Big Oil for making "too much money" off higher fuel prices amid the Iran war.
cnbc.com
CNBC Daily Open: A U.S. yen intervention dressed in euros
Reports suggest that Washington sold euros to fund its intervention to avoid impacting the sensitive U.S Treasury market.
theguardian.com
Metro Bank customer fights for £14,000 refund after AI-linked fraud
Lender was told money was being taken without authorisation, with cash used to buy credits for Claude chatbotA Metro Bank customer has told of his fight to get more than £14,000 back after its systems failed to stop a fraud involving the AI chatbot Claude.Zoli Rutter, a businessman from Sussex, had a total of £14,244 taken from his bank account. The scam involved fraudsters buying credits to use Claude. Continue reading...
theguardian.com
Secondhand EV leasing hits the fast lane as more UK drivers explore ways to cut motoring costs
Numbers using finance rises 170% in a year as leasing firms boom alongside leapin secondhand vehicle supply and surging fuel pricesThe number of people leasing used electric cars in the UK has more than doubled in the last year as drivers look for cheaper ways to avoid soaring petrol prices during Donald Trump’s war on Iran.Used electric car leasing has risen by 170% in the last year across members of the British Vehicle Rental and Leasing Association (BVRLA), a lobby group whose members buy about half the UK’s new vehicles to lease them out to businesses and consumers every year. Continue reading...
cnbc.com
AI is helping Grab ship products more than 30% faster, CFO says, as company raises forecasts
Grab reported second-quarter results on Tuesday and raised its full-year outlook.
bbc.co.uk
Could heatwaves make your food shop more expensive?
As temperatures rise, the chillers might not be the only thing supermarkets are adjusting.
bbc.co.uk
Horror bookshop in fight to stay open amid cost rises
A drop in customers caused by the recent heatwave has increased financial pressures for the owner.
theguardian.com
UK plastic manufacturer could face legal action over toxic emissions
Exclusive: Environment Agency is considering whether to prosecute Huntsman Polyurethanes over emissions of carcinogenic benzeneA plastic manufacturer in the north of England is facing potential legal action over emissions of benzene, a carcinogenic chemical with no safe level, the Guardian can reveal.The Environment Agency (EA) is considering taking legal action against Huntsman Polyurethanes in Teesside for a potential breach of licence, which is a criminal offence. Continue reading...
cnbc.com
HSBC pretax profit beats estimates, boosted by higher net interest income and fees
HSBC pretax profit beats estimates, boosted by higher net interest income and fees
theguardian.com
Price of olive oil expected to rise again as European crops feel the heat
Farmers warn impact of high temperatures, drought and wildfires on range of foodstuffs means costs will increaseFarmers across Europe are warning of a slump in food production and rising prices as crops from maize to salads suffer as a result of extreme heat, drought and wildfires.Olive groves have also been hit as the climate crisis drives temperatures across the continent to fresh record highs, meaning the cost of olive oil – already at elevated levels – is expected to start rising again. Continue reading...
theguardian.com
‘Fortnite on steroids’: the virtual gaming worlds transformed to train British soldiers
Inside Skyral, part of a consortium that won a £2bn MoD contract to help forces game out complex decisionsOn a sunny July day in Riga, Latvia, a Nato convoy drives down a street lined with kebab shops and a pharmacy. At a downtown intersection, there is the sound of an explosion and the lead tank bursts into flame.These are real streets in Riga â?? LÄÄplÄ?Å¡a iela and the downtown corridor of TÄ?rbatas iela. The kebab shops and the pharmacy are on them. The pedestrians who flee after the tank explodes and huddle at a distance are modelled after the population of Riga: some old, some young, some friendly to Nato, others less so. Continue reading...
theguardian.com
Can you tell if someone is filming you with Meta glasses? – video
Meta glasses - they're everywhere, and people have a lot of opinions. Mostly about their ability to take photos and videos. Rafqa Touma speaks to Guardian Australia's technology reporter, Josh Taylor, lifestyle editor, Alyx Gorman, and the Human Technology Institute's responsible technology policy specialist, Lauren Perry. Continue reading...
bbc.co.uk
Assignment
How amid the tents and the rubble Gaza is developing once again as an unlikely tech hub
cnbc.com
CNBC Daily Open: Fast and furious intervention to prop up the yen — will it work?
Japan, having intervened to prop its weakening currency to little effect in the past, roped in the U.S. to stage a coordinated intervention.
bbc.co.uk
Why is Trump Media selling early access to Trump's Truth Social posts?
The service reportedly costs up to $100,000 (£74,170) per month and offers access to posts from influential accounts milliseconds before they appear online.
bbc.co.uk
Half-price rail travel extended to 18-year-olds
They'll be able to buy the 16-17 Saver railcard up until the day before they turn 18.
bbc.co.uk
Tokenomics: Why making AI pay is tricky
Buyers of AI services are struggling to control costs and sellers are not sure how much to charge.
cnbc.com
Analysis: Federal Reserve may be pulled into Bessent’s effort to support Japan’s yen
Treasury Secretary Scott Bessent wants to defend the yen without selling Treasurys into a sensitive U.S. bond market. The Federal Reserve could help.
bbc.co.uk
Zinc dresses and ice creams - how to survive a heatwave wedding
The wedding industry is facing last-minute costs to cope with the heat and October bookings are up.
cnbc.com
CNBC's The China Connection newsletter: AI wins come with an old investor risk
From a surprise yuan devaluation in 2015 to crackdowns in recent years, many of Beijing's policy moves appear abrupt to outsiders.
cnbc.com
Big Tech's Anthropic and OpenAI stakes are distorting the corporate earnings picture
If you were to strip out Big Tech's investment gains from private AI companies, the earnings story is a lot less bullish.
theguardian.com
US states sue Trump administration over new tariffs on 60 trading partners
Coalition of 25 states asks US Court of International Trade to halt tariffs and declare them them unlawfulTrump imposes fresh tariffs on dozens of trading partnersA coalition of 25 US states sued the Trump administration on Monday over new tariffs pegged at 10% to 12.5% on goods from 60 trading partners, calling them a pretext for replacing import taxes struck down by the supreme court in February.The states are asking the US Court of International Trade to halt the tariffs, declare them unlawful and order refunds of duties that have already been paid. Continue reading...
cnbc.com
Palantir's Karp renews attacks on frontier AI labs that are 'trying to drug addict us'
Karp said Chinese models can't be blamed for distilling U.S. models when the frontier labs "distilled all the value of IP, everywhere."
cnbc.com
Snap's stock jumps 8% on earnings beat and strong sales forecast
Snap beat analysts' estimates across the board in its second-quarter earnings report.
cnbc.com
Twenty five states sue Trump administration over latest global tariffs
Twenty five states sued the Trump administration, arguing its latest global tariffs unlawfully replace duties already struck down by courts.
cnbc.com
Amazon tops $3 trillion market cap as stock continues post-earnings surge
Shares of Amazon hit a new all-time high Monday, putting its market cap over $3 trillion.
cnbc.com
Can Palantir pull off a Microsoft-style comeback? Here's what options say
Hopes are running high that high-profile software provider Palantir can shake off its nine-month bear market and rally after earnings.
cnbc.com
Michigan confirms first two deaths in cyclospora outbreak
The Michigan Health Department said that both individuals had underlying health conditions.
theguardian.com
Apple launches legal challenge against UK government demand to access data
The Home Office has made a fresh request for ‘back door’ access to encrypted iCloud data belonging to British usersApple has launched a new legal challenge against a UK government demand to access its customers’ highly encrypted data, a year after the Home Office agreed to abandon its previous request.The US tech company launched the legal complaint last month at the Investigatory Powers Tribunal (IPT), an independent court that has the power to investigate claims that the UK intelligence services have acted unlawfully. Continue reading...
cnbc.com
Hugging Face CEO says China is winning the AI race and dominating on open models
Hugging Face CEO Clément Delangue said Chinese AI models could catch up to the U.S. as soon as this year.
theguardian.com
AstraZeneca should stick to its winning formula. It doesn’t need a $400bn US mega-merger
The Anglo-Swedish drugmaker’s flirtation with a grand combo with US group Bristol Myers Squibb is baffling• AstraZeneca shares fall 8.9% over merger talks with US cancer drug firmSir Pascal Soriot, chief executive of AstraZeneca, starts with huge credit in the bank, obviously. His long tenure has been a triumph, starting with the against-the-odds victory over Pfizer’s charmless accountants in 2014.The $39bn (£29bn) purchase of Alexion in 2021 looked a little over-priced at the time, but you could see how it sat well with Soriot’s sermons on the importance of backing science. The deal got AZ into the field of medicines for rare diseases, which should offer decades of growth. Continue reading...
cnbc.com
White House to host AI companies Tuesday to review new model-testing framework
President Donald Trump’s June executive order directed officials to develop a process to evaluate the cybersecurity capabilities of advanced AI models.
cnbc.com
Trump insists Iran talks are underway despite Tehran's 'duplicitous' denials
Trump on Truth Social accused Iran's leaders of lying about peace talks, which he said are underway "whether Iran wants to admit it or not."
theguardian.com
AstraZeneca falls to third-largest UK company amid US merger talks
Proposed $400bn tie-up with Bristol Myers Squibb would create world’s fourth-largest drugmaker but analysts question rationale More than £17bn was wiped off the value of Britain’s biggest drugmaker, AstraZeneca, on Monday after a report that it was in discussions to take over its US rival Bristol Myers Squibb in a deal that would create a near $400bn (£300bn) pharmaceutical group.AstraZeneca, run by Pascal Soriot, its longtime chief executive, had been worth nearly £196bn before the news broke. BMS, headquartered in Princeton, New Jersey, and known for its cancer treatments, was worth $133bn (£98bn). Continue reading...
bbc.co.uk
Threat to oil tankers in Middle East worst since start of Iran war, analysts say
Fresh attacks on alternative shipping routes have left tankers facing an increasingly complex situation, analysts say.
bbc.co.uk
Derelict former BHS site a 'continuing nightmare'
The former department store closed in 2016.
cnbc.com
Why the U.S. stepped in after decades to prop up Japan's yen — and what's at stake
Washington's decision to join Japan in supporting the battered yen has prompted questions over what motivated the rare coordinated intervention.
cnbc.com
SpaceX's post-IPO plunge sets tense backdrop for first earnings report
Two weeks after Tesla's earnings report was panned by Wall Street, Elon Musk faces investors again, but this time to discuss SpaceX's results.
cnbc.com
What the market is saying about the U.S. intervention to prop up the yen
Following the joint involvement the yen now sits at 157 to the dollar, down from just above 163, which represented its lowest level in four decades.
cnbc.com
Greece wildfire in pictures: Firefighters battle blaze worsened by 100km per hour winds
Greece is entering its second week of wildfires spread by extreme winds as more countries in Southern Europe battle with intensifying climate change.
bbc.co.uk
Almost £200,000 of fuel stolen from UK forecourts every day since Iran war began
Incidents of fuel being taken without payment have risen by a fifth in five months, according to industry analysis.
theguardian.com
Stacked! How the north of England fell in love with American deli sandwiches – video
Jimi Famurewa, restaurant critic and food journalist, discovers how American regional deli sandwich culture is being reinvented in Leeds, Manchester and Newcastle. From hoagies and subs to hero rolls, Jimi samples the upgraded sandwiches people are queuing hours for and learns how to make the everything sandwich and a meatball sub that’s so messy, you need to eat it alone at home. Continue reading...
bbc.co.uk
Xbox Series X price hiked by £170 due to rising memory chip costs
Xbox consoles now cost significantly more in the UK, with one model increasing in price by 43%.
cnbc.com
Tourism price wars threaten to dim a rare bright spot in China's consumer spending
China’s domestic tourism is underperforming, with hotel revenues falling as soft demand pressures room rates.
theguardian.com
UK manufacturing growth picks up as Trump tariff chaos eases
Factories in upbeat mood despite fears over economic impact of US war on Iran, poll findsBusiness live – latest updatesUK manufacturers ramped up production last month for the fourth consecutive month and at the fastest pace in almost two years, according to a leading survey of the industry.The S&P Global poll of manufacturers found them in upbeat mood in July, though anxious about the prospect of a long war in the Middle East that would block supplies of oil and gas, and raise the cost of production. Continue reading...
bbc.co.uk
It may be easier to get your first mortgage than you think - here's why
More relaxed mortgage regulation opens the door for some first-time buyers, but it comes with risk.
theguardian.com
Yen hits three-month high after Trump helps prop up currency
US and Japanese governments confirm they carried out a rare joint intervention late last weekWhy has Trump stepped in to prop up Japan’s currency?Business live – latest updatesThe yen has hit its highest level in three months after Japan and the US launched a combined operation to support the Japanese currency.The yen strengthened to ¥155 to the US dollar on Monday, its highest level since early May, after Tokyo and Washington confirmed they had carried out a rare joint currency intervention late last week. Continue reading...
bbc.co.uk
US and Japan take action to prop up yen in rare joint move
Both countries have said that they will not hesitate to conduct joint interventions in the future.
theguardian.com
Trump’s hypocritical new tariffs are a chance for the world to fight back | Joseph Stiglitz
The president’s pretext of stopping forced labour is only a ruse – he is trying to grab a share of global trade for the USHere he goes again. The US President, Donald Trump, is increasing and decreasing tariffs willy-nilly, violating international agreements that he himself signed and almost surely violating federal law. The only difference this time is that he has a new pretext for abusing tariffs: stopping forced labour.Of course, the administration is right that too little is being done about forced labour. But its stated concern is a ruse. With the new tariffs closely tracking the ones that Trump imposed on the basis of trade balances, are we supposed to believe that bilateral trade deficits just so happen to be highly correlated with the use of forced labour? Continue reading...
theguardian.com
I was fined £500 after putting a coffee cup in a rubbish bag next to a full bin
Reader expresses consternation after enforcement officer issues penalty notice outside station in LondonI was outside London Waterloo railway station and was looking for a bin to dispose of an empty coffee cup.The only bin I could see was completely full, but there was a plastic bag containing rubbish at the base. Continue reading...
bbc.co.uk
New Spider-Man film sees second-biggest ever global opening weekend
The strong box office performance gives a boost to Disney ahead of the much-anticipated Avengers: Doomsday.
theguardian.com
Luke Bateman tells inquiry gambling companies gave him drugs and alcohol – video
Former rugby league player turned BookTok influencer Luke Bateman has alleged to a parliamentary inquiry he was supplied with drugs by gambling company promoters at the height of his spiralling addiction. 'There were times I would be flow interstate and taken to race days, put in marquees with alcohol and food provided, but before getting there your VIP manager would [ask] ... what drugs do you want? Do you want a couple of bags for the weekend?' Bateman tells the inquiry. He also recalls senior managers and founders of a betting company taking drugs with punters at an event on the Gold CoastLuke Bateman tells inquiry gambling companies supplied him with cocaine and alcohol Continue reading...
theguardian.com
At least five Mohamed Al Fayed abuse survivors confirmed as human-trafficking victims
Decision comes after group of survivors claimed ex-Harrods owner’s associates must have helped facilitate his crimesAt least five victims of the former Harrods owner Mohamed Al Fayed have been confirmed by the Home Office as victims of human trafficking.A group of survivors of abuse by the deceased businessman had called for the Metropolitan police to make trafficking the main focus of its investigation, arguing that Fayed could not have committed his offences without a steady stream of women sent to him by associates. Continue reading...
theguardian.com
Britain could face food shortages as drought continues, farmers warn
Farmers battle to salvage what they can of their crops as heatwave set to continueBritain could face shortages of certain foods after punishing drought in parts of England, the National Farmers’ Union (NFU) has warned as a heatwave was forecast to continue into next week.The UK’s Health Security Agency (UKHSA) has issued heat health alerts for eight regions of England, with temperatures set to rise above 30C in parts of the country. UKHSA said rising temperatures may increase health risks, particularly for vulnerable groups. Continue reading...
theguardian.com
The Guardian view on global corporate tax: a $500bn prize that states must seize | Editorial
Donald Trump may reject the negotiations, but he cannot veto a global effort to make multinational companies answer to governmentsGovernments are told that public services must shrink because money is tight. Yet a new Tax Justice Network report says that countries could capture an extra $500bn a year without raising corporate tax rates. The answer is to tax multinational profits where real economic activity happens – known as unitary taxation. No new profit is created. Revenue simply shifts from tax havens where profits are “booked” to the countries where workers produce and customers spend.Making that principle a global tax standard depends on UN talks opening in New York on Monday. Modelled on the UN climate regime, a fiscal framework convention would create the governing body and procedures, with protocols providing detailed rules. The UN wants agreement by late 2027. Donald Trump’s US walked out last year and urged others to follow. None did.Do you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
Solar powers record share of Britain’s electricity mix in July
Farms and rooftop panels contribute 14.4% to the grid – and figures reveal a surge in new installationsSolar energy supplied more power to Great Britain’s grid in July than in any previous month as households turned to rooftop panels to cut their energy bills.Solar farms and rooftop panels provided 14.4% of the country’s electricity after some parts of the UK recorded almost twice the average sunshine hours for the time of year. Continue reading...
theguardian.com
Trump is determined to pursue his trade war – and he may be difficult to stop | Eduardo Porter
The president’s minions have trawled the statutes to restore roadblocks to trade. The invocation of Smoot-Hawley looks especially dangerousDonald Trump may have found the killer weapon to punish countries at will: by imposing tariffs on their exports to the United States.The president has been looking for a new tool since February, when the supreme court struck down tariffs he slapped on virtually all of America’s trading partners based on the International Economic Emergency Powers Act, or IEEPA, on the spurious grounds that the US faced a variety of national emergencies. It’s become a parlor game among policy wonks to predict what new legal justification he would deploy to replace them.Eduardo Porter is a journalist focused on economics and politics. He writes the newsletter Being There on Substack Continue reading...
theguardian.com
Why Andy Burnham’s devolution pledge will be tricky to deliver | Richard Partington
Sharing income tax with England’s regional mayors could tackle inequality but many councils are ill-equipped for an enlarged roleOn the road to Downing Street, Andy Burnham promised to transfer power from Westminster to every postcode in the country. After his first two weeks in office, the size and complexity of this project are becoming clearer.With a date set for the autumn budget, the work of filling in the detail that will underpin his devolution plans begins – starting with his proposal to hand England’s regional mayors a share of income tax to support local economic development. Continue reading...
theguardian.com
Inside M&S’s swanky Oxford Street revamp, the blueprint for its £700m growth strategy
As boss Stuart Machin unveils a new-look Pantheon the retailer has fashion and overseas challenges aheadOn a hot summer’s evening on London’s busy Oxford Street, a crowd of fashion influencers, models, journalists and the odd City analyst gathered for a first look at the upmarket revamp of Marks & Spencer’s landmark Pantheon store.Some may have had to double-check they had the right address, such is the scale of the makeover at the 88-year-old outlet, which is intended as a blueprint for change across the retailer’s more than 200 large stores. Continue reading...
theguardian.com
Stock market turmoil sheds stark light on the opaque AI economy
Investors scramble to make sense of a shock Chinese challenge to the dominance of western chipmakersEven for the rollercoaster world of AI, last week was particularly volatile as investors scrambled to keep up with developments that threatened the dominance of the largest western chipmakers.It began with a double whammy. On Monday, the Chinese memory chipmaker CXMT floated on the Shanghai stock market, soaring by 466% in value to 3.3tn yuan (£365bn). Continue reading...
theguardian.com
‘You owe parking fees’: experts warn of fake RingGo text scam
Criminals hope by using threats of enforcement action, people will panic and click link to bogus parking app siteYou use parking apps a lot – you have several on your phone – but it is not always straightforward. Sometimes there is a lack of reliable mobile signal, or the app crashes or behaves oddly, or it does not seem to want to accept your bank card.Also, it is sometimes hard to keep track of which apps you have used when. So when you receive a text from RingGo saying you owe it money, you are not totally surprised. Continue reading...
theguardian.com
Kremlin connections: the Russia links to a £600m UK theme park
Exclusive: French company Puy du Fou worked with a sanctioned oligarch on plans for a Crimea resort longer than disclosed, and later courted Iran and ChinaIn February 2014, thousands of “little green men” – Russian soldiers in unmarked uniforms – flooded into Crimea, seizing control of military bases and infrastructure.Their arrival marked the opening salvo of Vladimir Putin’s annexation of the peninsula, an operation that ultimately escalated into the full-scale invasion of Ukraine. Continue reading...
theguardian.com
‘We cannot magic up more water’: the supply problems putting housing targets in England at risk
Council leaders say crumbling infrastructure and lack of water are jeopardising government’s plans for new homesThe government’s housebuilding agenda is hitting the stark reality of a lack of water and crumbling infrastructure across the east and south-east of England.Half the country was declared to be in serious drought this week, for the second consecutive year, with the Environment Agency warning of dire consequences for the economy, environment and wildlife. Continue reading...
theguardian.com
UK’s state investments agency hit by data breach
Security lapse leaves sensitive information and contact details of 51 government officials exposed for 40 hoursThe public body in charge of the UK’s state investments has been pushed to improve its internal security after a data breach left “high-level management information” publicly accessible for nearly two days.UK Government Investments (UKGI), the agency that manages the taxpayers’ interest in a swathe of companies including Channel 4 and the Post Office, said the security failure also left more than 50 government officials’ personal details exposed for nearly 40 hours. Continue reading...
cnbc.com
An exam leak in India exposed a Gen Z jobs crisis that goes much deeper
While the leak of key exam papers was the trigger for the recent student protest in India, rising unemployment is the real fuel angering Gen Z in the country.
bbc.co.uk
Parents save on school uniforms at city swap shop
Parents take home school uniform for free at a pop-up that organisers hope can become a regular event.
theguardian.com
New York City’s Flatiron building enters new era with $58.5m apartments
Manhattan’s triangular building will open this fall to wealthy residents, with 36 apartments exposing Flatiron’s ‘steel skeleton’New York City’s Flatiron building has had many lives: as a structure seen as a deathtrap; as a nuisance which created a deadly, petticoat-lifting, wind current and, mainly, as a commercial space.Now, the triangular building, a favorite of tourists and locals alike, is entering a new era: as a residential building, where apartments cost up to $58.5m. Continue reading...
bbc.co.uk
Faisal Islam: Four reasons why Fifa's World Cup plan never stacked up
The actual presentation of FIFA's plan to part-privatise the World Cup raises many more questions than it answers.
theguardian.com
China’s tech advances are causing chaos from Silicon Valley to the White House
New AI models, advanced robots and specialty computer chips are unsettling markets and the US tech industryOver the past month, a series of advancements in China’s artificial intelligence, chip manufacturing and robotics technologies have rattled financial markets, caused divisions among US tech moguls and left the Trump administration scrambling to respond.Silicon Valley has long pointed to China’s tech industry as a competitive threat and used its growth as rationale for why US firms should not face regulatory oversight that could slow them down. In recent weeks, however, China’s progress has pushed US tech CEOs past vague warnings and into open disagreement over how to address Chinese-made products upending their industry. Continue reading...
theguardian.com
Lost income, energy fears and a woolly mammoth: what Europe’s dried-up rivers have yielded
Heat and drought have affected shipping, power plants and tourism across eastern Europe – as well as unearthing some surprisesBaking temperatures and drought across large swathes of central and eastern Europe have driven water levels on the Danube and Rhine rivers to record lows in some areas, hitting shipping, energy production and tourism hard.Extreme conditions aggravated by the climate emergency left Europe’s waterways from the Netherlands to the Black Sea parched, triggering compounding crises. Continue reading...
theguardian.com
In the battle of Elon Musk v the press, we can’t let truth be the loser | Jane Martinson
The trillionaire Tesla owner has called the editor of the Economist a ‘traitor to the west’ after a clash-filled interview. How should the media respond?Elon Musk’s long interview with the editor of the Economist is as good a representation as any of the current clash between two worlds. In one corner, the editor of an 182-year-old news organisation which promotes economic liberalism and freedom. In the other, the world’s first trillionaire, who spreads misinformation to his hundreds of millions of followers on his own social media platform. The bout is a masterclass in the challenges journalists face in a new world of AI, fact avoidance and online aggression.The flash points in Zanny Minton Beddoes’ conversation with Musk start with definitions. Musk says that the people Minton Beddoes calls “far-right” and “fringe” (she mentions Germany’s AfD party) are in fact just “normal people”. They clash over whether the speed of his cuts to USAID led to unnecessary deaths in developing countries – she believes his claim that it didn’t defies not only statistics but the evidence from her reporters on the ground. Asked if he is racist, he cites the fact he has four children with a woman who is “half Indian”. In an awkward exchange, when asked by Minton Beddoes whether he is anti-Muslim, Musk says he is against “people coming to a country with antithetical views … I’m against rape and murder.”Jane Martinson is a Guardian columnist. She is a board member of the Scott Trust, which owns the Guardian Media Group. As the Marjorie Deane professor of financial journalism at City St George’s, University of London, she has a connection through a charitable foundation to Zanny Minton Beddoes, who is chair of trustees. She writes in a personal capacityDo you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
‘We didn’t feel safe’: Booking.com users face battle to get money back
From melted electric sockets to shabby alternatives, readers tell of dealings with platform when things go wrongJane Ripley* spent some time researching the best apartment to stay in for her family’s trip to Batumi in Georgia, eventually settling on one with an “exceptional” rating on Booking.com.But when the Ripleys arrived at 11pm on the first day, they were directed to another property that was shabby and had stains on the furniture and ceiling. Continue reading...
bbc.co.uk
Stick to spending limits, PM and chancellor tell ministers in joint memo
The Chancellor said the Budget on 28 October would “meet our fiscal rules” and give families "stability" to plan for the future.
theguardian.com
Turn failing water firms into not-for-profit cooperatives, MPs and mayors tell PM
Labour politicians say mutualised model puts public in control without adding debt to government’s balance sheetMPs and mayors close to Andy Burnham have told the prime minister there is a “third way” to gain more control of failing companies, as the row over whether or not to nationalise Thames Water rumbles on.Burnham is said to be concerned about the increase in government debt that Treasury projections show could be a result of nationalising water companies. Continue reading...
theguardian.com
The tangled financial web at the heart of Reform UK
Nigel Farage’s £5m gift, the Cottrell family’s links and donations, and Richard Tice’s business dealings form part of an increasingly clear nexus of relationshipsIt has been three months since the Guardian revealed that Nigel Farage had accepted a £5m gift from Christopher Harborne, a billionaire donor to Reform UK.This was not the first story in our continuing investigation. But it has proved the most significant, and the consequences of the disclosure are still being played out. Continue reading...
bbc.co.uk
Snapchat joins other popular platforms in fight against 'AI slop'
Snapchat, YouTube, LinkedIn, and Substack are trying to combat the proliferation of fake AI content.
theguardian.com
‘It ain’t the same’: inside the bitter battle to free Ben & Jerry’s
Ben Cohen says his ice-cream company has been silenced by corporate ownership – and a boycott of Magnum brands could force a saleBen & Jerry’s ice-cream in the tub is still great, but the brand’s newest chocolate-covered ice-cream bar on a stick?“It ain’t the same,” Ben Cohen, the company co-founder, told the Guardian. Sure, the chocolate coating is still thick enough, but the ice cream itself is “kinda fluffy”, Cohen said – an insult in the ice-cream world that suggests extra air was added to cut costs. Continue reading...
bbc.co.uk
AI firms must answer for rogue bots, says boss of hacked company
Clement Delangue said he didn't want cyber attacks on other companies to become "normalised".
bbc.co.uk
BP puts North Sea business up for sale
The decision follows a review of BP's operations and is set to end 60 years of production in the region by the oil giant.
theguardian.com
UK petrol price hits Iran war high, adding to pressure on households
Average pump price reaches 160p a litre, while diesel is up 14.5p to 179p and forecast to increase to 185p soonThe price of petrol has hit a new Iran war high at UK forecourts, adding to the financial pressure on millions of households about to embark on their annual holiday.The RAC said that in “very unwelcome news for drivers” the average pump price had reached 160p a litre, reversing the fall to 151p in early July that followed the announcement of a Middle East ceasefire. Continue reading...
bbc.co.uk
Sainsbury's agrees to sell Argos for £120m
Under the terms of the deal, Argos will still operate in Sainsbury's shops, sell Habitat products, and offer Nectar points.
bbc.co.uk
Passenger on British Airways mayday flight describes fear and shout of 'I don't want to die'
Edward Killiwick was on the flight that issued a distress call, before it landed safely at Heathrow earlier this month.
bbc.co.uk
UK petrol prices hit highest level since Iran war began
The price of unleaded hits 160p a litre, according to motoring group the RAC, as oil prices remain elevated.
bbc.co.uk
'I will miss my shop tremendously after six decades'
Meredith's DIY Hardware and Ironmongery has been at Yate Shopping Centre, near Bristol, since 1965.
bbc.co.uk
'I pay £580 a month to live in a disused care home': Property guardians show us around
Could you live communally in a disused building in exchange for a heavily discounted rent? Property guardians show us around.
bbc.co.uk
India wants to join the strawberry superpowers
Indian strawberry farmers rely on varieties imported from the US and Europe, but that could change.
theguardian.com
Will we pay more tax to fund social care? – podcast
Andy Burnham gave a major speech on Wednesday on his plans for a national care service. He sought cross-party consensus on the issue by speaking to the Tories and Lib Dems. But not Reform UK or the Greens. On Thursday, Reform’s Robert Jenrick claimed at a press conference that the prime minister wanted a ‘death tax’. But is that what Burnham set out? Plus, Zack Polanski is under fire for a social media post. Is the Green party leader too ‘online’? Pippa Crerar and Peter Walker discussRead Peter Walker’s article on Zack Polanski’s social media use here.Read John Crace’s article on social care here.Please keep sending your comments and questions to politicsweeklyuk@theguardian.com Continue reading...
bbc.co.uk
The Chinese robot army transforming the UK's retail industry
Britain's weak productivity growth and labour shortages are creating an opportunity for China's robotics firms.
bbc.co.uk
What happens here has a big impact on your money
BBC business reporter Dearbail Jordan explains how it works from inside the Bank of England.
bbc.co.uk
How cow showers and fans help farmers keep cattle cool
Dairy farmers are using cow showers and fans to protect cattle as hotter summers hit milk production.
bbc.co.uk
Is it time to stop using glue and labels on paper?
Labels and adhesives can prevent paper from being recycled but there's new tech aimed at changing that.
bbc.co.uk
The 20-somethings betting big on tech stocks
The BBC hears from people about the risks and rewards of investing in technology shares.
bbc.co.uk
This farmer wanted to quit the cocaine industry - he couldn't
Colombians who grow cocaine's raw material bemoan a lack of support to help them switch crops.
bbc.co.uk
Is tracking your food purchases good for your health?
Food tracking apps are popular, but are they a good way to make us eat a healthier diet?
theguardian.com
AI and artists can click – a new manifesto for modern creativity
The UK is both an epicentre of global creative industries and a budding AI powerhouse. Here’s how it can balance support for creatives while also embracing technological changesWhat does it mean to be a creator in today’s modern world when artificial intelligence is reshaping relationships between humans and technology?That’s one critical question the UK creative industry has been asking itself as AI rips up traditional conventions on copyright, ownership, effort, and originality. Continue reading...
bbc.co.uk
New era for Gibraltar with removal of 118-year-old border controls with Spain
It is hoped that free movement between the UK territory and Spain will provide an economic boost.
bbc.co.uk
Wealthy AI workers send San Francisco house prices soaring
The median cost of a home in the city is now $1.7m, a record high, according to the latest figures.
bbc.co.uk
Robots available for rent: But what can they do?
Robotics tech is changing fast, so for many it makes sense to rent a robot.
bbc.co.uk
AI is 'not smart' so what's next in artificial intelligence?
Leading AI researcher Yan LeCun has a start-up which is developing a more flexible AI system.
bbc.co.uk
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
bbc.co.uk
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
bbc.co.uk
The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
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